MAKING THE MOST OF YOUR ACCOUNTING SOFTWARE

Recently I have been consulting to a business who, in the last 6 months, had introduced new accounting software. My task - to ensure that staff were using the software effectively and efficiently and that management had access to reports they sought after. Businesses can spend a substantial amount of money investing in new software but fall short when employees are either not trained properly or resist the changeover. The software providers spend time transferring you from your old software to the new but often do not follow through with extensive training on how to use it.

I found the new software very efficient and it had the capability of producing nearly any report that your heart desired. It had excellent functions that allowed for automatic processing of recurring purchases, payments and month end journals and you could pay off your month end creditors with a click of a button. No more tedious bank reconciliations ticking off bank statements and processing creditor payments. When I  first became involved with this business none of these functions were set up or being used. The staff were doing things the way they always had because they either resisted the change or did not have the knowledge to navigate around the new software.

This kind of scenario quickly became my passion. It was so apparent that I could make a direct positive impact for this business with my knowledge and background even though I had never used the software. I spent the first weeks navigating my way around the software, watching you tube clips and reading about what the software was designed to do. Two months in and I had designed reporting functions so that with a click of a button they could export weekly reports required for their banking facility. Bank reconciliations and month end procedures were down to a minimum and their live data was accurate, reliable and most importantly in real time. And this was only the tip of the ice berg.

So why should you be making the most out of your accounting management software? To save time, money and to ensure you, or your decision makers, have access to relevant and reliable reports and information at any time. I'm not suggesting that you need to run out and buy the best software on the market. But knowing what your existing software is capable of, and ensuring that it is fulfilling your business requirements is a must!

If this sounds like your business – give SALO a call. We are more than happy to sit down and hear about your current circumstances and discuss how we could benefit you and your business.

By Rachel Hubble